The Fed has raised interest rates for the 17th consecutive time, housing sales have slowed and consumer confidence is down. So the Business Journal asks:
Are you worried about the economy?
David Rifkind
Co-Managing Director
George Smith Partners Inc.
I think the current economic situation is actually very good. The economy is still very strong. There are winners and losers with every change in the market. We are very bullish in our business and we are employing strategies to take advantage of the current interest rate environment taking a head wind and turning it into tail wind. There was lot of speculation with people buying houses and condominiums as investments and not as potential residences. The rising rates have taken that speculation out of the market, which is good for sustainability.
Jon Goodman
President
Town Hall Los Angeles
The current economic situation is attractive. Employment is strong and all of the major indicators are solid. The rising interest rates are reasonable. The open market committee has been predictable, which is one of the most important factors in analyzing economic environment. If the moves of the regulators are not predictable, all hell breaks loose. Overall, I’m not worried about the economy. On the other hand, if you ask me what I think five to 10 years from now, I would probably tell you that I’m buying a financial bomb shelter. The debt in this country government debt, personal debt is unsupportable, unsustainable, and will have disastrous effects.
Meredith Wollman
Director of Marketing for Interiors Division
HOK
I’m very worried about the state of the economy right now. But I would imagine that the interest rates will cap out at some point, or at least I hope they do. Hopefully during the next presidential election, someone will come in and really put the economy back on its feet. To deal with the rising interest rates, we’re becoming more of a cash and carry household and trying to keep credit card debt to a minimum.
Kevin Spady
Associate Principal
Perkins+Will
On both a personal and professional level, I’m not too concerned about interest rates rising. I don’t see myself changing my personal financial habits in any way. On a professional basis, our firm is doing very well right now and the outlook is good for next year. I don’t see these changes as having any significant impact in our industry.
Rockwell Schnabel
Chairman
Sage Group LLC
Our generation has never seen economic growth as strong as what is taking place all over the world right now. Although interest rates are a little higher than they have been in past years, on the whole, they are at a 40-year low. There is tremendous liquidity in the world, both here and in developing nations. The bearish sentiment of people that are negative on the market is way overdone. This growth will continue as long as we keep markets open. We are in a very positive economic period with all of the different parts of the world participating.
Jessie Roberts
Director of Business Development
HGA Architects and Engineers
It’s not so much that I’m worried about the economy, but I certainly am paying more attention to it. Monitoring the economy is a way of life, especially in business. We are always paying attention and trying to adjust to market changes. As of yet, we haven’t had to make any major adjustments because of rising interest rates, but that doesn’t mean that we won’t have to in the future.
